BSP chief bucks revival of OPSF amid rising oil prices
Bangko Sentral ng Pilipinas Governor Benjamin Diokno is strongly opposing proposals to revive the Oil Price Stabilization Fund (OPSF) amid rising pump prices of fuel products caused by Russia’s invasion of Ukraine.
UnionBank hires 2 senior officers
Union Bank of the Philippines led by bankero Edwin Bautista has hired two senior officers to beef up the bank’s treasury group as well as compliance and corporate governance office. The Board of Directors of the Aboitiz-owned bank has approved the employment of Treasury Group assistant vice president Juan Sebastian Santiago. The bank also tapped […]
Nearly all customs collection points report higher than target collection
The Bureau of Customs surpassed its February 2022 target collection by 17.4 percent or P8.734 billion and actually collected P59.036 billion against target collection of P50.302B.
Moody’s unit forecasts still accelerated growth for the Philippines this year
Economic expansion in the Philippines as measured by the gross domestic (GDP) is forecast to accelerate further this year to 6.2 percent, according to Moody’s Analytics.
Fintech actors draw strength in numbers
The small fintech actors, especially those organized without the protective umbrella of a huge corporate parent, now enjoy a greater sense of security and comradeship with the establishment of the largest private-sector-led organization in the business under the group Digital Pilipinas or DP.
RTB sales democratizing bond ownership
More than a third of all debt notes issued by the national government last year were retail in nature and deliberate so in hopes of expanding the ownership of government bonds beyond its usual audience of banks and financial institutions.
Fintechs, e-money issuers vow to guard vs digital vote buying
Financial technology companies and electronic money issuers vowed to uphold clean, honest, and credible presidential and national elections in May by guarding against digital vote buying and selling schemes.
Digital banking this year seen turning red hot as six new licensees go onstream
Although some of the country’s legacy lenders have expressed disinterest in operating a digital version of themselves, the digital banking space this year is seen to heat up significantly as six more digital competitors become operational.
Budget deficit in 2021 almost three times wider than that observed by emerging market economies
As expected, the government’s budget shortfall as percent of local output or the gross domestic product (GDP) widened in 2021.
Earnings of RCBC jump 41% to record P7.1B
The profits of Rizal Commercial Banking Corp. (RCBC) headed by bankero Eugene Acevedo surged 41 percent to P7.08 billion last year from P5.02 billion in 2020 after a strong fourth quarter.